Beacon Investment Advisory Services Inc. Purchases 942 Shares of Broadcom Inc. (NASDAQ:AVGO)

Beacon Investment Advisory Services Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,502 shares of the semiconductor manufacturer’s stock after acquiring an additional 942 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Broadcom were worth $24,923,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVGO. Endeavor Private Wealth Inc. bought a new position in Broadcom during the fourth quarter valued at approximately $95,000. Burr Financial Services LLC purchased a new stake in Broadcom during the 4th quarter valued at $5,573,000. MinichMacGregor Wealth Management LLC lifted its holdings in shares of Broadcom by 37.2% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 1,635 shares of the semiconductor manufacturer’s stock valued at $379,000 after buying an additional 443 shares during the period. D.B. Root & Company LLC boosted its stake in shares of Broadcom by 3.6% in the 4th quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer’s stock worth $1,281,000 after buying an additional 191 shares during the last quarter. Finally, First PREMIER Bank grew its holdings in shares of Broadcom by 117.9% in the fourth quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer’s stock worth $197,000 after acquiring an additional 460 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.8 %

NASDAQ AVGO opened at $244.70 on Friday. The stock has a 50 day moving average price of $208.80 and a 200-day moving average price of $180.62. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.15 trillion, a P/E ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho boosted their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.